Tata Metaliks declines after weak Q1 performance

Tata Metaliks fell 2.34% to Rs 481.20 after the company reported a net loss of Rs 12.36 crore in Q1 FY21 as against net profit of Rs 19.62 crore in Q1 FY20.

Net sales during the quarter declined 57.9% on a year-on-year basis (YoY) to Rs 209.94 crore. On the segmental front, Pig Iron revenue was at Rs 138.14 crore (down 64% YoY) while the Ductile Iron Pipe revenues came in at Rs 120.73 crore (down 53% YoY) in the first quarter of the financial year 2020-21.

Pre-tax loss stood at Rs 16.63 crore in Q1 June 2020 compared with pre-tax profit of Rs 27.31 crore in Q1 June 2019.

 

Tata Metaliks manufactures pig iron and ductile iron pipes.

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